Reported 7 months ago
On June 14, 2024, Alter Electric (stock code: 1503) surged due to successful projects in Taiwan Electric's resilient grid plan, solar photovoltaic projects, and energy storage system contracts, leading to a record high consolidated revenue for the first five months. Despite foreign investors turning from buyers to sellers with 991 shares sold on the 14th, institutional investors and proprietary traders jumped in, causing a rush of buying orders in the market. The stock hit the daily limit up of 269.50 yuan within 40 minutes of trading, closing with a significant increase of 24.5 yuan, breaking through the resistance of the 5-day, 10-day, and 20-day moving averages. Alter Electric's uncompleted project acceptances affected revenue recognition, resulting in May's consolidated revenue being the third highest for the same period; the combined revenue for the first five months reached 15.316 billion yuan, a 7.89% yearly increase and a new high for the same period. Alter Electric's power equipment business received a large order and is investing 1 billion yuan to build a new power equipment factory in Hukou, Hsinchu, aiming to commence production in the first quarter of 2025 with an estimated 25% increase in annual production capacity. This was reported by the Commercial Times. Six days left Countdown, local investors strive to balance accounts, and the Taiwan stock market declines. Two major local investors support the market with billions in funds, and tax cuts for day trading passed the third reading, boosting the Taiwan stock market.
Source: YAHOO